Bush Unveils Economic Priorities

President's Proposals Frame
Contrast With Rival Kerry,
But Strike Some as Timid

By

Jacob M. Schlesinger and

Jackie Calmes Staff Reporters of THE WALL STREET JOURNAL

Updated Aug. 10, 2004 12:01 a.m. ET

WASHINGTON -- Handcuffed by big budget deficits but eager to show voters a fresh economic agenda, President Bush laid out the central economic theme of his re-election campaign: He is pledging to create an "era of ownership" that will include proposals to partially privatize Social Security, and liberalize tax breaks for health care, savings and job training.

Most of the specific White House campaign proposals are likely to be small-scale, and will leave some of Mr. Bush's backers yearning for bolder steps to...